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Brooklyn New Dev

Weekly New Development Market Update for Manhattan and Brooklyn – May 20-26, 2024

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  • 53 NYC new development contracts were signed last week, a 9% decrease from the week before.
  • 77 new closings totaled $136M.
  • PPSF: Average contract asking price: $1,893 | Average closed sale price: $1,437
  • Of the 53 new dev contracts signed in NYC, 23 (-34%) were in Manhattan, 24 (+4%) were in Brooklyn, and 6 were reported in Queens.


Manhattan: 23 New Contracts Totaled $138M


Number of new signed new dev contracts in Manhattan decreased from 35 to 23 this week.

23 contracts were distributed across 18 buildings, and no project reported more than two contracts. 

111 West 57th Street on Billionaires Row reported two contracts last week. Deals were on 3BR units priced between $13.75M and $21.5M. 

Monogram New York in Turtle Bay reported two contracts for 1 and 2BR units asking $1.41M and S2.19M. 


Brooklyn: 24 New Contracts Totaled $34M


Deal volume increased from 23 to 24 this week. These contracts were distributed across 21 projects.

1218 Putnam Avenue in Bushwick reported three contracts on 1 and 2BR units asking $545K and $895K. 

900 Knickerbocker Avenue in Bushwick reported two contracts on a 1BR units asking $499K and $525K.


Data for this report is deemed reliable at the time of collection, but is not guaranteed accurate. Data points were collected from Marketproof.com. Analysis and conclusions are subject to errors, omissions and revisions.

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With over a decade of expertise in Manhattan and Brooklyn, Brandon Mason looks forward to providing you with a real estate experience that is second to none. Feel free to explore our website, and contact Brandon with any questions you may have.

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